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BITCOIN - My Thoughts On The Current Waves...In this concept, I share my viewpoint on the present condition of the waves. It's not a short trade suggestion yet, but rather an observation of what I perceive to be happening. I unmistakably detect a sense of frenzy at the peaks, whether it's through comments or news pieces regarding cryptocurrency. Market behavior consistently mirrors the collective psychology of its participants. While I suspect we might be at or nearing a peak, further confirmation is needed through the breach of a couple more key levels. A drop below $47,643 and $46,792 should offer the initial indications required. Additionally, I delve into the broader pattern and its defining characteristics.
by AriasWave
1
BITCOIN - Short Trade For a Possible Wave B Zig-Zag...A breach of $47,047 low could signal the start of a downward movement for Wave (A) within Wave B. The stop would shift to the conclusion of the minor rebound, approximately around $47,247, contingent on when Wave E concludes. At this juncture, my inclination would be to aim for the support area around $43,883. However, the outcome hinges on the development of this wave and whether it aligns with the potential decline I anticipate for my short Avalanche trade. (Linked below)
Short
by AriasWave
1
BITCOIN - Wave iii of Wave 5 In Progress...A thorough examination of previous waves indicates that we're currently in Wave iii of Wave 5. Following a bullish breakout beyond the previously mentioned levels, the $42,656 support held well, serving as an effective stop level for risk management. For those who remained patient and overlooked the volatility at the lows, their perseverance is now yielding results. With this being recognized as a 5-Wave Move, my minimum expectation now targets the highs around $49,000.
Long
by AriasWave
BITCOIN - My View On This Trade and Coming Trends...In this video I go through the larger pattern and give you my thoughts on the smaller degree trade that we are currently following and making good gains on. However this is just the beginning of many known moves to come which are part of a repeating serious of fractal patterns which AriasWave is based upon. This is the reason we are in such a wonderful trade, that's because I understand very well that there can only ever be a certain amount of patterns that occur in a correction and all their variances. I also cover psychology but not in the way most people try to make it important but in the way it really affects traders.
Long
by AriasWave
BITCOIN - Long Trade Wave Identification Update...With a revised wave count, the patterns established overnight indicate a preference for an upward movement. According to this count, support is identified at $42,656. If this count holds true, we've likely already validated an upward movement, yet surpassing $43,571 would further bolster confidence. Anticipate an imminent upward breakout. Initial target set at $48,000, with potential for all-time highs contingent upon the strength of the surge.
Long
by AriasWave
BITCOIN - Let's Play Devil's Advocate - What If?As noted in my previous video, deciphering this count has proven challenging. Therefore, based on my latest bullish analysis, I'd like to present a bearish perspective. However, it's crucial to acknowledge that these viewpoints heavily rely on whether a low or high is breached. As of my posting, we've retraced to .618 in a somewhat choppy and feeble manner. Take a look at the count and draw your own conclusions. My belief is that if we surpass $43,565, we'll ascend further, but if we dip below $42,331, we'll likely trend downward. Await a breakout and share your insights by leaving a comment on your predictions.
by AriasWave
2
BITCOIN - Long Trade Video - My Reasoning on Small\Large Degree.In this video, I outline the recent shifts in my perspective over the past few days and the reasons behind them. To make reasoned decisions within the context of AriasWave, I needed to identify a point of failure, which I accomplished within the last 24 hours. When it comes to trading, errors can result in being stopped out, but I've had several successful trades prior to this setback, so it's not overly concerning. The positive aspect is that we now have a new objective: aiming for the highs. It's crucial to recognize when one's perspective is incorrect and adapt accordingly, or else risk further losses. In this instance, the change in price action has influenced my viewpoint, as it should. The support level remains at $42,224, with a current target set at $48,000, though this may potentially increase. We'll observe how the situation unfolds.
Long
by AriasWave
2
Bitcoin - Long Trade Idea - Updated Target...Based on my revised analysis, it appears that we are currently in Wave (C) of the presumed zig-zag pattern. A minimum expectation is for prices to reach the $48,000 range. To validate this projection, we need to observe a breakthrough at the $43,565 level. If this count proves accurate, it suggests a larger zig-zag pattern than initially anticipated, with a supportive level at $42,224. While the possibility of this evolving into a more extensive 5-Wave Move cannot be entirely ruled out, it is prudent to exercise caution, especially around the peak levels. It's important to note that this count has not been confirmed yet, emphasizing the need for a cautious approach.
Long
by AriasWave
2
BITCOIN - Short Trade Update - Get Ready For Wave 3 Down...Considering the recent price movements, I suggest that Wave 3 downward is on the verge of commencing. My current analysis indicates the formation of a 1-2 i-ii pattern, signaling an imminent reversal. To confirm this reversal, three key levels must be breached: $42,229, $41,890, and $41,620. In the event that Wave 3 initiates, I am unable to provide a target at this time. Updates will be provided as the process unfolds, particularly upon breaking the aforementioned levels. Further insights into this change will be elaborated in my upcoming video. For risk management, it is advisable to set a protective stop at $43,490.
Short
by AriasWave
1
BITCOIN - Short Idea Update - Looking For A Move Lower...Up to this point, I've observed various indicators signaling an imminent downward movement. The sluggish progression is attributed to consistently low trading volumes on most weekends. Despite the gradual unfolding, I want to share my perspective on the current situation. After capitalizing on profits from the corrective bounce, I am now anticipating a breach of the $41,620 lows. Such a breach would validate the conclusion that Wave E concluded at its peak, prompting us to prepare for an eventual downturn. However, this downturn may not occur immediately. My purpose in providing regular updates is not to invalidate the view just because a bounce occurred but rather to underscore the importance of comprehending market waves, particularly in a corrective range scenario. This understanding can prove valuable in building capital during corrective phases. Target: $41,620 with a stop at $43,745 or more aggressively at $43,490, depending on your understanding and confidence in the wave count. A break of $42,542 should make the latter more meaningful.
Short
by AriasWave
Monthly on btcusd.January ended with a Doji candle, a symbol of uncertainty and often when seen on the tops a prelude to reversals. But for a reversal of the trend, confirmation will be needed and we know that the underlying trend is bullish, so in this context we can use the doji candle to understand whether it will make a retracement or not, using the highs and lows of the candle. For the February or March candles, a closing below the minimum should be seen as a retracement signal because to reverse the underlying trend, in addition to confirmation, time is also needed and on this we have seen that the trend has been bullish for more than a year . A close above the doji's high, however, would be a very strong bullish signal, consolidating a trend that for now seems to catch its breath in the short term and that's all.
BNC:BLX
by Melupira89
BITCOIN - Wave D Short Trade Idea - Fake Out Wave...As noted in the previous update, it's probable that we'll witness an upward retracement for the corrective phase of Wave D in this zig-zag pattern. Presently, we've experienced a substantial pullback, prompting the initiation of a short trade position towards the lower levels. This move is anticipated to breach the support, confirming the culmination of a peak in the overarching pattern. Resistance is identified at $43,745, with a target set at $41,435 to complete Wave D. Subsequently, I anticipate the price to rebound into the range during Wave E.
Short
by AriasWave
5
BITCOIN - Short Trade Update - Choppy For A Reason...Whether you accept it or not, there is invariably a prevailing trend. Amid these turning points, a considerable amount of perplexity arises, contributing to the formation of these distinctive patterns. AriasWave possesses the expertise to decipher these patterns, while adherents of Elliott Wave theory may only recognize ABC patterns. In contrast, I assert that corrections can only manifest in a series of 5 waves. This conviction underlies my firm belief that the current juncture is a pivotal turning point. To demonstrate this understanding, I diligently provide daily updates on unfolding movements, even addressing instances where I may have been unaware due to residing in Australia and being asleep during certain market events. In my latest video, I delve into a comprehensive analysis of the current market scenario and elucidate the psychological aspects essential for success in trading.
Short
by AriasWave
6
BITCOIN - Short Idea Video - Head & Shoulders - Triple Top...We've breached the support level, signaling the end of the upward trend, and I delve into the various factors contributing to this shift in my latest video. I also discuss the reassigned labels for the Wave 2 count; in my perspective, a downward expansion indicates a weakening market. The attempt to rebound with two separate 5-Wave moves, interspersed by a zig-zag Wave D, suggests that the bears are gaining control. In times of crisis, there's potential for profit if you have a compelling reason to short, particularly during declines. Anticipating this move to coincide with a global recession, it presents a rare chance to purchase assets at more affordable prices. Rather than viewing it negatively, see it as an opportunity – embracing both the favorable and unfavorable aspects. A confirmation of Wave 3 downward will materialize with a break below $41,620.
Short
by AriasWave
BITCOIN - Long Trade Update - Video...In this video, I discuss recent long trade concepts for Bitcoin and provide a recap of the thought process that led to the decision-making for initiating these trades. Additionally, I delve into the strategies of securing profits and implementing scaling techniques. While learning fractal patterns may require dedication, they are not insurmountable. I also emphasize key traits exhibited by Wave E's, as they are pivotal in various markets over the medium term. As of now, the established support level stands at $43,082. See related ideas below.
Long
by AriasWave
1
Bitcoin - Long Trade Update...We currently find ourselves in the third wave of this Wave E movement, and within that wave, we are navigating through Wave 2. The anticipated support for the upcoming upward movement is set at $43,082. The commencement of the next upward phase is expected within the next several hours or possibly sooner. A decisive break above $43,790 would serve as confirmation for the upcoming move higher. I anticipate this movement to surpass the $45,000 mark. You can refer to the initial video linked below, where I initially advised on the recent upward movement.
Long
by AriasWave
2
Bitcoin - Small Long Trade In Preparation For The Big Short...In this video, I analyze the present Bitcoin price movements, indicating a potential upward shift beyond $45,000. To position myself for a short position in this market, I plan to engage in trading during the final corrective upward movement within the Wave 2 correction. The pattern at a smaller scale implies an impending upward movement, and I will utilize the starting point of this final wave as confirmation for an anticipated decline in the upcoming days. For more details on why I am choosing to short Bitcoin at the opportune moment, I've included a link to the video below. Wave E Support: $41,580
Long
by AriasWave
4